Glass House Brands Inc. (NYSE: GLAS) shares were in the green Tuesday, on announcing the completion of its first international sale of smokeable CBD biomass to Europe. The product sold was part of the initial commercial harvest of Greenhouse 4 of the Company’s Camarillo Farm. This greenhouse was initially planted for commercial hemp in Winter 2025.
All hemp biomass produced in Greenhouse 4 is fully compliant with California regulations and will remain sellable under the proposed federal intoxicating hemp ban. While initial sales are focused on European distribution, longer term, Greenhouse 4 production is being positioned for supply into the proposed federal Medicare reimbursable CBD program.
“We are very pleased with our team’s initial harvest and early sales with commercial hemp,” said CEO Kyle Kazan.
“Our initial hemp sale to Europe is a historic step for the company as it reflects the first sale of any Glass House product outside our home state of California. We will continue to develop this product line and plan to use initial sales experiences for both R&D and brand development ahead of anticipated near-term medical cannabis sales into Europe. To be clear, we will compliantly grow whatever cannabis and hemp that we can sell for the highest price as the legal channels continue to open for us.”
GLAS shares took on 26 cents, or 2.3%, to $11.58.
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